Procter & Gamble Company (The) (NYSE:PG) Shares Acquired by Mechanics Financial Corp

Mechanics Financial Corp lifted its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 1.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,155 shares of the company’s stock after purchasing an additional 209 shares during the period. Procter & Gamble makes up about 1.3% of Mechanics Financial Corp’s holdings, making the stock its 15th biggest position. Mechanics Financial Corp’s holdings in Procter & Gamble were worth $2,924,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC raised its position in Procter & Gamble by 51.5% during the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company’s stock valued at $6,717,000 after buying an additional 13,617 shares during the period. Bank Pictet & Cie Europe AG raised its position in Procter & Gamble by 493.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company’s stock valued at $57,294,000 after buying an additional 284,174 shares during the period. Proficio Capital Partners LLC raised its position in Procter & Gamble by 50.4% during the fourth quarter. Proficio Capital Partners LLC now owns 10,360 shares of the company’s stock valued at $1,737,000 after buying an additional 3,472 shares during the period. Axxcess Wealth Management LLC raised its position in Procter & Gamble by 1.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 97,421 shares of the company’s stock valued at $16,333,000 after buying an additional 1,806 shares during the period. Finally, Petra Financial Advisors Inc. raised its position in Procter & Gamble by 5.4% during the fourth quarter. Petra Financial Advisors Inc. now owns 1,455 shares of the company’s stock valued at $244,000 after buying an additional 74 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Performance

PG opened at $152.61 on Wednesday. The company has a market cap of $357.80 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 4.38 and a beta of 0.40. The stock has a 50-day moving average of $161.54 and a 200-day moving average of $164.68. Procter & Gamble Company has a 52-week low of $151.90 and a 52-week high of $180.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71.

Procter & Gamble (NYSE:PG) last announced its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The firm had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter in the prior year, the company earned $1.52 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $1.0568 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.77%. Procter & Gamble’s payout ratio is 67.14%.

Insider Activity at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider owned 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer owned 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PG has been the topic of several recent analyst reports. Redburn Atlantic lowered Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target on the stock. in a research report on Thursday, May 1st. Bank of America dropped their target price on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Citigroup dropped their target price on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Royal Bank Of Canada raised Procter & Gamble from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Finally, Truist Financial dropped their target price on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.25.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.